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2014 National Health Expenditures Released

On December 2, 2015, the Centers for Medicaid & Medicare (CMS) released the national health expenditures for 2014 as studied by the Office of the Actuary at CMS. Overall, U.S. health care spending grew 5.3 percent reaching over $3 trillion or $9,523 per person.

Households and the federal government accounted for the largest shares of spending (both at 28 percent), followed by private businesses at 20 percent and state and local governments (both at 17 percent). The federal government share increased from 26 percent (2013) due mainly to Medicaid expansion and health insurance premium tax credits.

The report concludes the increase in spending growth from 2013 was primarily driven by millions of new people with health insurance coverage as a result of the Affordable Care Act and by rapidly rising prescription drug costs.